Shares of the following companies had unusual moves in U.S. trading. Stock symbols are in parentheses, and prices are as of 4 p.m. in New York.
Energy stocks advanced and airlines dropped as oil surged to the highest level in more than two years in New York. Intensifying violence in Libya raised concern that supplies will be disrupted from the holder of Africa’s largest crude reserves.
Chevron Corp. (CVX US) gained 1.6 percent to $100.32. Exxon Mobil Corp. (XOM US) climbed 1.1 percent to $85.44.
Delta Air Lines Inc. (DAL US) declined 6.6 percent to $10.74. United Continental Holdings Inc. (UAL US) slipped 9.2 percent to $24.44. AMR Corp. (AMR US) lost 5.7 percent to $7.02. Carnival Corp. (CCL US), an operator of cruise ships, dropped 7.9 percent to $42.09.
Homebuilder shares also declined after residential real-estate prices dropped in the 12 months through December by the most in a year, a sign the U.S. housing market is struggling even as the rest of the economy recovers. Pulte Group Inc. (PHM US) declined 7.5 percent to $7.20. D.R. Horton Inc. (DHI US) dropped 5.7 percent to $12.07. USG Corp. (USG US), a building materials producer, sank 9.8 percent to $16.90.
Alibaba.com Ltd. (ALBCF US) slumped 13 percent, the most since September 2008, to $1.93. The biggest electronic-commerce company in China said an internal probe found more than 2,300 vendors used its website to defraud global buyers, prompting the chief executive officer to quit.
Bank of America Corp. (BAC US) fell 3.9 percent, the most since Jan. 19, to $14.18. The biggest U.S. lender by assets almost doubled a goodwill impairment for its credit-card unit to $20.3 billion to reflect increased defaults and an almost 2-year-old change in rules.
Barnes & Noble Inc. (BKS US) fell 14 percent, the most since June 29, to $15.94. The largest U.S. bookstore chain suspended its dividend to conserve cash and invest in digital reading.
Chesapeake Energy Corp. (CHK US) jumped 5.2 percent to $32.01 for the second-biggest gain in the Standard & Poor’s 500 Index. The most-active U.S. natural-gas driller sold its Arkansas shale gas assets for $4.75 billion in cash to BHP Billiton Ltd. (BHP AU), the world’s biggest mining company.
Clinical Data Inc. (CLDA US) lost 7.9 percent, the most since June 29, to $31.21. Forest Laboratories Inc. (FRX US) will buy the drug development company for $1.2 billion to gain access to a new antidepressant approved last month by U.S. regulators. Forest Laboratories will pay $30 a share in cash for Clinical Data plus an additional $6 a share if the drug, Viibryd, meets certain sales goals, the companies said today in a statement.
Forest Laboratories retreated 4.2 percent to $32.90.
Daktronics Inc. (DAKT US) plunged 27 percent, the most since November 2007, to $11.88. The maker of Times Square video displays and other electronic billboards forecast “limited” growth in fourth quarter revenue and said it is experiencing “continued pressure” on gross margins.
Delcath Systems Inc. (DCTH US) tumbled 38 percent to $7.01 for the biggest loss in the Russell 2000 Index. The developer of an experimental system for giving anti-cancer drugs said the U.S. Food and Drug Administration refused to accept the company’s application for the chemosaturation system used on patients with metastatic melanoma in the liver.
Expeditors International of Washington Inc. (EXPD US) fell the most in the Standard & Poor’s 500 Index, dropping 11 percent to $49.04. The manager of cargo ships reported fourth-quarter sales of $1.58 billion, trailing the average analyst estimate of $1.69 billion in a Bloomberg survey.
Forest Oil Corp. (FST US) declined the most in the Russell 1000 Index, sliding 11 percent to $34.78. The Denver-based oil and gas company posted fourth-quarter profit excluding some items of 44 cents a share, trailing the average analyst estimate by 5.6 percent, according to Bloomberg data.
Humana Inc. (HUM US) rose 4.1 percent to $63.95, the highest price since March 2008. The U.S. health-care group will partner with Discovery Holdings Ltd., Africa’s largest medical insurance administrator, to offer clients of the U.S. company wellness and loyalty programs. Cowen & Co. raised the Humana to “outperform” from “underperform.”
Janus Capital Group Inc. (JNS US) fell 6.4 percent, the most since June 29, to $13.61. The Denver-based money manager had its “underweight” rating reiterated at JPMorgan Chase & Co. Janus “will continue to generate negative to below market organic growth,” JPMorgan said in a note, citing an analysis of Charles Schwab Corp.’s (SCHW US) distribution channels.
Kraft Foods Inc. (KFT US) advanced 1.8 percent to $31.47, the biggest gain in the Dow Jones Industrial Average. The world’s second-largest food company said it is “gaining momentum” in North America. The food company reiterated its 2011 outlook and long-term targets.
Mentor Graphics Corp. (MENT US) climbed 6.5 percent to $15.47, the highest price since July 2008. Carl Icahn, the activist investor, offered to buy the software maker for about $1.86 billion in cash after calling for a sale of the company earlier this month.
Netflix Inc. (NFLX US) declined 5.9 percent, the most since July 22, to $221.60. The DVD-rental and streaming company slipped after Amazon.com Inc. (AMZN US), the world’s largest online retailer, said it will start offering instant streaming of more than 5,000 movies and TV shows to customers of its Amazon Prime home-delivery service.
Nvidia Corp. (NVDA US) fell 9.4 percent, the most since July 29, to $23.21. The maker of interactive graphics declined after Susquehanna International Group LLC forecast increased competition from Texas Instruments Inc. (TXN US), Marvell Technology Group (MRVL US), and Qualcomm Inc. (QCOM US).
Siga Technologies Inc. (SIGA US) jumped 19 percent, the most since Oct. 18, to $13.58. The U.S. pharmaceutical company developing products to fight bio-warfare pathogens said an affiliate of the Department of Health and Human Services is seeking to procure 1.7 million courses of a smallpox antiviral.
VF Corp. (VFC US) rose the most in the S&P 500, rallying 7.5 percent to $96.52. The apparel maker forecast 2011 earnings of at least $7 a share, exceeding the average analyst estimate of $6.85 in a Bloomberg survey.
Wal-Mart Stores Inc. (WMT US) declined 3.1 percent, the most since May 20, to $53.67. The world’s biggest retailer posted a seventh straight quarterly sales decline at its U.S. stores, falling short of its own projections for the holiday period.
Zoran Corp. (ZRAN US) climbed 15 percent, the most since March 2009, to $10.74. The maker of software and chips for digital audio and video products agreed to merge with CSR Plc (CSR LN), a maker of chips used in Nokia Oyj mobile phones.